Spend Management

cost reduction in procurement

21 min read

Procurement Cost Reduction: How to Cut Costs Without Cutting Corners

Succeed in procurement cost reduction and don’t sacrifice the quality of your products or services. Discover strategies that actually work.

Marta Holyk
Marta Holyk
Procurement Basics
maverick spend

18 min read

Maverick Spend: Causes, Risks & Mitigation Strategies

Learn what maverick spend is, why it happens, and how to combat it with effective procurement strategies.

Svitlana Mysak
Svitlana Mysak
Procurement Basics
gl codes in expense tracking

12 min read

GL Codes in Expense Tracking: Importance, Examples, and Best Practices

GL codes help businesses accurately track every transaction and ensure error-free reports. Learn how to use them for efficient expense management.

Marta Holyk
Marta Holyk
Procurement Basics
cost centers and how to optimize them

9 min read

Cost Centers: How to Understand and Optimize Them

Cost centers serve as critical components in any organization, offering a lens through which to analyze and manage expenses effectively. Read about the logic of cost centers and ways to manage them with maximum efficiency.

Marharyta Golobrodska
Marharyta Golobrodska
Procurement Basics
Liquidity Management: Importance, Risks, and Best Practices

15 min read

Liquidity Management: Importance, Risks, and Best Practices

Liquidity management is a must-have practice for a company to meet its financial obligations. Learn how to measure liquidity and tips for improving it.

Marta Holyk
Marta Holyk
Procurement Basics
expense report

14 min read

Expense Reports: A Comprehensive Guide

Sometimes, things just have to be paid here and now, so employees reach into their pockets to cover the work-related expenses with their own money. And that's okay, as long as the company reimburses that cost. For this to happen, expense reports must come into play.

Marharyta Golobrodska
Marharyta Golobrodska
Procurement Basics
cash conversion cycle

10 min read

Five Foolproof Ways to Shorten the Cash Conversion Cycle

How do companies improve their cash flow and liquidity? By shortening the cash conversion cycle! There are five main tips you should know.

Marta Holyk
Marta Holyk
Procurement Basics
cost savings

27 min read

The Definitive Guide to Cost Savings

The COVID-19 pandemic and then the full-scale Russian invasion of Ukraine have proved that, at any moment, seemingly perfect plans and financial projections can suddenly become unrealistic.

Marharyta Golobrodska
Marharyta Golobrodska
Procurement Basics